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Santa Monica advisory provides pref equity on local loan package atop $127m senior loan.
Rising mortgage rates and housing prices, along with new household formation, has meant demand for affordable rental housing has surged.
More borrowers are looking at C-PACE financing to ‘green’ their properties as the US government dials up its own focus on addressing climate change through August’s Inflation Reduction Act.
Sectors such as cold storage and pharmaceutical warehouses are seeing an uptick in demand.
Multifamily has been resilient since the end of the GFC. But lenders are now seeing storms on the horizon for the sector
Better, more accessible data is making it easier to manage loan portfolios – and intervene earlier as distress emerges, says Eddie Kelly, global head of loan services at Apex Group.
Alternative lenders see a future with fewer defaults and more collaboration.
Sponsors Baron Property Group and MG Developer are planning a mixed-use, apartment property slated for completion in Q2 2024.
The study, which incorporates 65 years of data, is the first significant research on commercial mortgage losses and risk metrics since 2005.
The bank is targeting financing for seven multifamily properties across 13 states backed by 12 banks and insurers.